Northwestern Mutual Wealth Management Co. Sells 3,865 Shares of Parker-Hannifin Corporation $PH

Northwestern Mutual Wealth Management Co. decreased its position in Parker-Hannifin Corporation (NYSE:PH) by 4.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 77,289 shares of the industrial products company’s stock after selling 3,865 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Parker-Hannifin were worth $75,599,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. BlackRock Inc. bought a new stake in shares of Parker-Hannifin in the second quarter valued at $10,163,362,000. Norges Bank bought a new position in shares of Parker-Hannifin during the 4th quarter worth $1,756,230,000. Deutsche Bank AG bought a new position in shares of Parker-Hannifin during the 2nd quarter worth $987,587,000. Bank of New York Mellon Corp purchased a new stake in Parker-Hannifin in the 2nd quarter worth about $712,222,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Parker-Hannifin in the 2nd quarter valued at about $305,628,000. 82.44% of the stock is owned by institutional investors.

Parker-Hannifin Price Performance

PH stock opened at $1,002.90 on Friday. The firm has a 50 day moving average of $984.42 and a 200-day moving average of $948.75. The company has a current ratio of 1.26, a quick ratio of 0.74 and a debt-to-equity ratio of 0.44. Parker-Hannifin Corporation has a 12 month low of $715.37 and a 12 month high of $1,099.94. The firm has a market capitalization of $126.46 billion, a P/E ratio of 35.20, a price-to-earnings-growth ratio of 2.61 and a beta of 1.12.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings data on Thursday, August 6th. The industrial products company reported $9.27 EPS for the quarter, beating the consensus estimate of $8.31 by $0.96. The company had revenue of $5.75 billion during the quarter, compared to analysts’ expectations of $5.57 billion. Parker-Hannifin had a net margin of 16.97% and a return on equity of 28.48%. Parker-Hannifin’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $7.69 earnings per share. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. As a group, sell-side analysts predict that Parker-Hannifin Corporation will post 34.93 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Monday, August 31st will be given a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Monday, August 31st. Parker-Hannifin’s payout ratio is 28.08%.

Analysts Set New Price Targets

Several equities research analysts have commented on PH shares. UBS Group upped their price objective on shares of Parker-Hannifin from $1,092.00 to $1,250.00 and gave the company a “buy” rating in a report on Friday, August 7th. BMO Capital Markets reiterated an “outperform” rating and issued a $1,214.00 target price on shares of Parker-Hannifin in a research note on Friday, August 7th. Wells Fargo & Company lowered their price target on shares of Parker-Hannifin from $980.00 to $950.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 26th. Mizuho set a $1,050.00 price target on shares of Parker-Hannifin in a research note on Friday, May 1st. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Parker-Hannifin in a report on Friday, July 17th. Seventeen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $1,100.00.

Parker-Hannifin Company Profile

Parker-Hannifin Corporation (NYSE: PH) is a global manufacturer and provider of motion and control technologies and systems. The company designs, manufactures and services a broad range of engineered components and systems used to control the movement and flow of liquids, gases and hydraulic power. Its product portfolio is applied across demanding environments and includes solutions for industrial manufacturing, aerospace, mobile equipment and other engineered applications.

Parker-Hannifin’s product and service offerings span hydraulic and pneumatic components, fittings and fluid connectors, valves, pumps and motors, electromechanical actuators and motion-control systems, filtration and separation products, and seals and sealing systems.